Insurers in UAE continue to recover from '24 record rains

The UAE insurance sector maintained its recovery trajectory in the first half of 2025, building on the strong first-quarter performance and further distancing itself from the stress impact of April 2024 rains.

- Waheed Abbas

Towers in Dubai. Insurance revenue for the 27 listed companies increased 19 per cent to Dh24.6 billion during the January-June 2025 period. - FILE PHOTO

(FILE PHOTO)

The sustained recovery was helped by increased premium rates and strong investment income.

Data released by Badri Management Consultancy revealed that insurance revenue for the 27 listed companies increased 19 per cent to Dh24.6 billion during the January-June 2025 period compared to Dh20.7 billion during the same period last year.

"This expansion reflects sustained premium rate increases, improved risk-based pricing, and continued demand in motor and medical lines, which remain the primary growth drivers," the Consultancy said in its first-half report.

The UAE recorded the highest rains in 75 years in April last year, causing major damages to automobiles and properties in Dubai, Sharjah, and the northern emirates. Insurers posted billions of dirhams in claims following the unprecedented rains.